Displaying items by tag: Votorantim Cimentos
Votorantim Cimentos reports 23% sales growth so far in 2020
16 November 2020Brazil: Votorantim Cimentos’ consolidated net sales in the first nine months of 2020 were US$2.17bn, up by 23% year-on-year from US$1.76bn in the corresponding period of 2019. However, its profit fell by 61% to US$28.7m from US$73.9m
Cement sales in the third quarter of 2020 rose by 15% year-on-year to 9.7Mt from 8.4Mt in the third quarter of 2019. The company reported increased sales volumes in Uruguay, the US and Canada, and an 18% increase in Brazil, “maintaining the strong pace” recorded at the end of the first half of 2020. The company said, “The significant emergency aid from government during this period and its use in the direct purchase of construction inputs, including cement, has supported civil construction alongside the currently historically low interest rate. In addition, people continue to invest in improving their homes, with retail sales of building materials increasing nationally.”
The company’s third quarter adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 94% to US$281m in 2020 from US$145m in 2019. It said, “The economic opening after the initial restrictions of the Covid-19 pandemic is turning out more positively than anticipated on the third quarter of 2020, while the on-going recovery is projected to be gradual, considering the uncertain scenario. Currently, global gross domestic product (GDP) is projected to decrease 4% in 2020 - less severely than the previously published data, although uncertainty around the recovery path for upcoming years due to second wave of Covid-19 remains considerable in some countries, alongside viability of additional fiscal and monetary stimulus.”
Cementos Artigas consolidate cement production at Minas cement plant
13 November 2020Uruguay: Spain-based Cementos Molins and Brazil-based Votorantim Cimentos subsidiary Cementos Artigas plans to invest US$40m in upgrading its integrated Minas clinker plant with the addition of a vertical roller mill and new cement silos in order to consolidate its clinker production and grinding capacity at the site. The El Periodico newspaper has reported that, as a result, the producer will shut its Sayago grinding plant, leading to a net reduction in production costs of 40%.
Work will begin by early 2021 and the company will commission the new integrated production line in 2022. Cementos Molins chief executive officer (CEO) Julio Rodriguez said, “With this new investment we continue to develop our strategy, in which sustainability and respect for the environment are the first priority. At the same time, it is also a clear sign of our long-term commitment to the Uruguayan market where we have been present since 1991.”
Votorantim Cimentos considering buying majority stake in McInnis Cement
02 September 2020Canada: Brazil-based Votorantim Cimentos is in talks with Caisse de dépôt et placement du Québec (CDPQ) over possible acquisition of the investment company majority stake in McInnis Cement. Quebec Premier François Legault said, “Quebecers have already invested a lot in the cement plant. For nationalism reasons, I would like a Quebec company to be ready to invest,” according to the Journal de Montreal newspaper. Béton Provincial has registered for a government grant of US$115m in order to acquire the stake, which has been for sale since January 2020. Investissement Québec and the Beaudier Group are both minority shareholders.
Aumund Brazil to supply conveyor to Votorantim’s Xambioá cement plant
02 September 2020Brazil: Aumund Brazil will supply a type BZB bucket apron conveyor to Votorantim’s Xambioá integrated cement plant in Tocatins. It will replace a pan conveyor being used to transport clinker from the cooler to the silo. The new conveyor will have a centre distance of 92m and a conveying capacity of up to 170t/hr. The upgrade is expected to reduce dust levels at the site. Supply and commissioning of the new bucket apron conveyor in Xambioá is due to take place in October 2020. The order follows a previous order to Aumund for a similar project at Votorantim’s at Vidal Ramos plant in Santa Catarina.
Brazil: Votorantim Cimentos recorded a loss of US$94.0m in the first half of 2020, up by 99% year-on-year from US$47.2m in the first half of 2019. Sales fell by 8% to US$680m from US$739m. During the period Votorantim Cimentos and its subsidiary St Mary’s Cement increased the balance withdrawn from credit facilities by US$247m, in order to “strengthen liquidity as protection within the current crisis context due to the Covid-19 pandemic and to cope with the seasonality that recurrently affects North America.” The group says that it will reduce the value of its 2020 investments by 25% to US$545m from a planned US$726m, down by 6.3% year-on-year from US$581 in 2019.
Spain: Votorantim Cimentos España has appointed Juan Aguilera as the new Industrial Director of Cementos Cosmos. He will supervise the management of the four integrated and two grinding plants the company operates in Spain, according to the Diario de León newspaper. Aguilera has worked for Votorantim and related companies for nearly 20 years spending time managing plants at Córdoba, Niebla and Malaga. He has also worked as the Director of Operations for Votorantim Cimentos in Brazil. Aguilera started his career at the Eduardo Torroja Institute for Construction Sciences and he holds a doctorate in chemical sciences.
Votorantim Cimentos urges use of Ethics Line to help fight against racial discrimination
05 June 2020Brazil: Votorantim Cimentos has joined in the global condemnation of racism by encouraging its employees and external stakeholders to use its Ethics Line ‘in case of any lack of respect in the work environment.’ The line is open for 24 hours a day. Votorantim Cimentos reminded people that they can also speak to a member of its leadership, the Business Ethics Agency or the Ombudsman ‘with anonymity and without fear of retaliation’. Votorantim Cimentos said, “Not being racist is not enough: we need to be anti-racists. We count on you to transform Votorantim Cimentos and our society into a more respectful, humane and inclusive place.”
Brazil: Votorantim Cimentos recorded a loss of US$68.4m in the first quarter of 2020 compared to a loss of US$2.71m in the corresponding period of 2019. However, sales rose by 2.4% year-on-year to US$465m from US$454m.
Votorantim Cimentos said that it is ‘closely monitoring the situation’ resulting from the coronavirus outbreak and is ready ‘to institute new measures should they be needed.’ It said that it has ‘a solid liquidity position, reinforced by available revolving credit facilities, amounting to US$500m.’
“The company is in a strong position to combat the impacts of the COVID-19 crisis,” it said.
Canada: Votorantim Cimentos subsidiary St Mary’s Cement has completed a 30m-high stack extension at its 0.8Mt/yr integrated St Mary’s plant in Stonetown, Ontario. The Canadian Press newspaper has reported that the upgrade is a response to increased odour complaints from Stonetown residents.
Votorantim Cimentos St Mary’s plant manager Jose Soraggi said, “Growing along with the community also means adapting along with it. We consider ourselves fortunate to maintain good relations with local residents and the town and to serve as an integral part of the business community in St Marys and Perth County. We take every opportunity to hear from our constituents and find solutions toward a positive and mutually beneficial future. The stack extension is an excellent example of that.”
Votorantim targets 1.0Mt/yr lime capacity
19 May 2020Brazil: Votorantim Cimentos has said that it will end 2020 with an agricultural lime production capacity of 1.0Mt/yr, up by 25% year-on-year from 0.8Mt/yr in 2019 following a US$12.6m investment in two new plants in Itapeva and Nobres and upgrades to plants in Itau de Minas and Nobres. SABI News has reported that the expansion will bring Votorantim Cimentos’ diversified products capacity to 4.3Mt/yr. The company says that it is ‘targeting value-added products’ to insure itself against a fall in demand for cement.